Just Another “Convention”-al Week

We’ll be live in Austin, Texas at the 2010 Keller William Mega Camp (look for us in booth #500).

We’re saddling up for another show in Galveston, Texas at the 2010 Texas Association of Realtors Convention and Trade Expo.

A bit closer to home (in our own hometown of Cincinnati), we are at the 2010 OAR Convention today. This is the 100th anniversary of the convention, and we’re excited to help OAR celebrate!

We’ll just be getting over our jet lag when it’s back on the road at the Virginia Association of Realtors’ REal Show: VAR’s Convention & Expo 2010 Conference on October 1st.

Whew!

Does Your Small Business Need an Accountant?

As a small business owner, keeping overhead costs to a minimum may be top priority. So, when it comes to accounting issues, it may be tempting to tackle the job on your own rather then spending precious capital on hiring a professional accountant to do the job.

 

But is this really a wise move or could you possibly end up losing more than you gain?

The following are some questions that small business owners should ask themselves to determine if they should hire an accountant:

  • Are you really saving money by doing your own bookkeeping? How much time and resources are being put aside to do the job on your own?
  • Do you need professional help in establishing your accounting systems for quarterly and year-end reports?
  • Will you need to complete year-end paperwork for your business, such as W-2 and 1099 forms?
  • Are you aware of what taxes you are obligated to pay and when they are due?
  • Do you need professional help for company payroll?
  • Do you know what expenses are tax deductible?
  • Do you know how to separate personal expenses and business expenses for tax purposes?
  • Do you understand financial statements?
  • Do you know what health insurance is best for you and your employees?
  • How difficult and time consuming is it for you to remain informed regarding tax law changes?

 

If you decide in the end to take professional accounting help, it does not mean that you should dump all the accounting matters on an accountant and walk away – it always pays to be well informed about your business’ cash flow, tax obligations, and overall financial health. Altho


Read full article…

Zoning and Development Issues ~ Disclosure

By Brian Madigan LL.B.

This case seems rather straightforward. The owner of a property situate in the Grand River Conservation area lists his property for sale. The agent, Ralph Murphy fails to ascertain the zoning and the development restrictions that apply to the property.

Murphy is approached by a purchaser who wants to build on the site. There is certainly a nice view of the Grand River. It’s close, in fact, too close “for development” according to the Grand River Conservation Authority.

The listing agreement was somewhat on the faulty side. It said that the present use was “single family dwelling”. Both the vendor and the purchaser knew that the property was vacant. So, you would have thought that the Murphy would have known this too!

Murphy acts for the purchaser and prepares an Offer, but never has the purchaser sign a representation agreement or an acknowledgement that he obtained a copy of the offer.

AGREED STATEMENT OF FACTS

1. John Murphy is a Member of RECO and at all relevant times was registered as a broker trading on behalf of the broker Brokerage ABC Realty.

2. On July 7


Read full article…

How to Detect Theft in Small Business Accounts Payable

When times are tough, people can get disparate…. As the economy huffs and puffs along, it has left in its wake a surge in business theft, and this trend has had a disproportionate impact on smaller businesses. According to the Association of Certified Fraud Examiners (ACFE), employee theft at businesses with less than 100 employees cause an average loss of $200,000; that’s $57,000 more than the average loss of bigger businesses.

 

A while back I did a series on employee theft in general- what the effect is, how to spot it, and how it can be prevented within a small business. Recently, much attention has been given to the rise in reported incidents of accounts payables fraud within smaller businesses; so I thought it would be a good idea to cull a few tips on how to spot this kind of fraudulent activity based on the advice of ACFE and experienced auditing companies.

Here are a few telltale signs to look out for:

  1. Duplicate or similar payments.


Read full article…

Landlords and Property Managers

The short sighted landlord may think of the hiring of a property manager as an additional expense, but the knowledgeable property owner knows that an effective property management team can prove to be an important wealth building “tool.”

Certainly, the landlord will pay a fee for services rendered to the property management company, but the services that the property management company can provide will more than offset these fees.

Obviously, any services performed that will maximize profitability and minimize expenses are services that are indispensable to the success of any business venture.

The landlord that thinks only of the cost of hiring a property management team often neglects to consider how much the landlord’s time is worth, and where this time can be put to more advantageous use other than the often tedious and very time-consuming  day-to-day rental property management duties and tasks.

The landlord can utilize the knowledge and resources of the property management team to monitor area rental costs on a continuous basis. This i


Read full article…

Page 56 of 98« First...304050«5455565758»607080...Last »

Featured Posts

Insurance Websites